Two very early Bitcoin owners suddenly shifted tens of millions of dollars into BTC after more than a decade of dormancy.
Data from whale watching bot Whale Alert reported the abrupt awakening of an old Bitcoin wallet moved 1,004 BTC worth $56.92 million after being inactive for 10.6 years.
Data from the chain shows that the whale initially sent the BTC to a unknown wallet before transferring it to someone else wallet of unknown origin where the Bitcoin stack is currently located.
According to Bitinfocharts, the investor with deep pockets spent more than $1,132 million to accumulate BTC treasure in 2013 and 2014, when Bitcoin was trading below $800, indicating a gain of more than 4,920% after a decade of holdings.
Whale Alert also spotted another long-time Bitcoin holder convey 20 BTC worth $1.41 million after more than 11 years of inactivity. According to on-chain data, the entity has moved the BTC to a unknown wallet before moving the Bitcoin treasure to another unknown wallet.
Data from Bitinfocharts shows that the investor spent $1,676 to accumulate the Bitcoin stack in July 2013, when BTC was trading around $80, indicating a gain of almost 68,000% after 11 years of dormancy.
None of the Bitcoin stacks were sent to known crypto exchange addresses where they could potentially be sold on the open market.
At the time of writing, Bitcoin is trading at $57,700, up more than 2% in the past day.
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Generated image: Midjourney